Romney says he pays about 15 percent in income tax

[derf]

There is also word on the street that if he releases his taxes it will show that he has only been reporting income off some of his estimated wealth, and that there is still much much more that is hidden in offshore tax havens. Then the year before last when he decided to run, he started to move his money back to less illegal places. Supposedly he did it when he ran in 2007 and it looks like he is doing it again this year.

[Trip]

Republicans are fucking idiots to elect this moron

[Homeslice]

I certainly hope people with offshore accounts are using them to invest in stock or real estate rather than just parking it in a savings account, because the weak-ass returns wouldn't be worth it the risk.

[Papa_Complex]

Originally Posted by Homeslice

I certainly hope people with offshore accounts are using them to invest in stock or real estate rather than just parking it in a savings account, because the weak-ass returns wouldn't be worth it the risk.

Every dollar not paid in income tax is a dollar earned.

[Homeslice]

Originally Posted by Papa_Complex

Every dollar not paid in income tax is a dollar earned.

But if the investment is just a CD only paying 2% APR, it isn't worth it.

What is the top tax braket, 38% or something? So a 2% CD here in America would net you about 1.2% instead of 2%. Not something worth crying about, unless you are talking about several million dollars in that CD. And parking that much in a CD is dumb, IMO. It should be in stocks, bonds, or real estate. Hell, you could easily average 2-5% a year in tax-free municipal bond funds here in the US.

[Papa_Complex]

Originally Posted by Homeslice

But if the investment is just a CD only paying 2% APR, it isn't worth it.

What is the top tax braket, 38% or something? So a 2% CD here in America would net you about 1.2% instead of 2%. Not something worth crying about, unless you are talking about several million dollars in that CD. And parking that much in a CD is dumb, IMO. It should be in stocks, bonds, or real estate. Hell, you could easily average 2-5% a year in tax-free municipal bond funds here in the US.

You miss my point. By being held offshore, it's already yielding 38%.

[Homeslice]

Originally Posted by Papa_Complex

You miss my point. By being held offshore, it's already yielding 38%.

On the return. Not the principal.

If the offshore account earns 2%, he's earning 2% instead of the 2% - (2% * 0.38) he'd earn in the US.

Which means 2% instead of 1.2%.

[pauldun170]

Whats with all this fucking math bullshit?
I don't visit this forum for fucking math.

[Homeslice]

Originally Posted by pauldun170

Whats with all this fucking math bullshit?
I don't visit this forum for fucking math.

phag

[pauldun170]

Originally Posted by Homeslice

phag

I have one question for Romney.
"Hey brah...do you support the right of the people to teabag?"